-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, L0fVn2ahEbyz8koIZV+X2hYRUykohK/MYwqIjBobqdhiKUa0kzWUZF5gqGTUzbHo hmFpKqO93ztkP5/bA7RGeA== 0000950130-98-004021.txt : 19980814 0000950130-98-004021.hdr.sgml : 19980814 ACCESSION NUMBER: 0000950130-98-004021 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980630 FILED AS OF DATE: 19980813 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: HENRY JOHN W & CO/MILLBURN L P CENTRAL INDEX KEY: 0000853456 STANDARD INDUSTRIAL CLASSIFICATION: [6221] IRS NUMBER: 061287586 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 000-18215 FILM NUMBER: 98686532 BUSINESS ADDRESS: STREET 1: WORLD FINANCIAL CTR SOUTH TWR-6TH FLR STREET 2: C/O ML FUTURE INVESTMENT PARTNERS INCAGE CITY: MERRILL LYNCH WORLD STATE: NY ZIP: 10080 BUSINESS PHONE: 2122364161 MAIL ADDRESS: STREET 1: MERRILL LYNCH & CO STREET 2: WORLD FINANCIAL CTR, SOUTH TOWER, 6TH FL CITY: NEW YORK STATE: NY ZIP: 10080-6106 10-Q 1 QUARTERLY REPORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) (X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 1998 --------------- OR ( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ Commission File Number 0-18215 JOHN W. HENRY & CO./MILLBURN L.P. (Exact Name of Registrant as specified in its charter) Delaware 06-1287586 - ------------------------------- -------------------------------- (State or other jurisdiction of (IRS Employer Identification No.) incorporation or organization) c/o Merrill Lynch Investment Partners Inc. Merrill Lynch World Headquarters - South Tower, 6th Fl. World Financial Center New York, New York 10080-6106 ----------------------------------------------------- (Address of principal executive offices) (Zip Code) 212-236-5662 ------------------------------------------------------------- (Registrant's telephone number, including area code) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No ----- ------ PART I - FINANCIAL INFORMATION Item 1. Financial Statements JOHN W. HENRY & CO./MILLBURN L.P. (a Delaware limited partnership) ------------------------------ STATEMENTS OF FINANCIAL CONDITION ---------------------------------
June 30, December 31, 1998 1997 ----------- ------------ ASSETS Investments $51,933,844 $63,024,164 Receivable from investments 665,951 514,158 ----------- ----------- TOTAL $52,599,795 $63,538,322 =========== =========== LIABILITIES AND PARTNERS' CAPITAL LIABILITIES: Redemptions payable $ 665,951 $ 514,158 ----------- ----------- Total liabilities 665,951 514,158 ----------- ----------- PARTNERS' CAPITAL: General Partner: (504 and 780 Series A Units) 125,830 221,605 (1338 and 1976 Series B Units) 271,506 456,174 (896 and 1439 Series C Units) 141,697 258,899 Limited Partners: (47640 and 50992 Series A Units) 11,894,047 14,487,473 (127807 and 135244 Series B Units) 25,936,175 31,223,304 (85768 and 91020 Series C Units) 13,564,589 16,376,709 ----------- ----------- Total partners' capital 51,933,844 63,024,164 ----------- ----------- TOTAL $52,599,795 $63,538,322 =========== =========== NET ASSET VALUE PER UNIT Series A (Based on 48144 and 51772 Units outstanding) $ 249.67 $ 284.11 =========== =========== Series B (Based on 129145 and 137220 Units outstanding) $ 202.93 $ 230.87 =========== =========== Series C (Based on 86664 and 92459 Units outstanding) $ 158.15 $ 179.92 =========== ===========
See notes to financial statements. 2 JOHN W. HENRY & CO./MILLBURN L.P. --------------------------------- (a Delaware limited partnership) ------------------------------ STATEMENTS OF OPERATIONS ------------------------
For the three For the three For the six For the six months ended months ended months ended months ended June 30, June 30, June 30, June 30, 1998 1997 1998 1997 ---------------- -------------- --------------- -------------- REVENUES: (Loss) income from investments $(4,405,863) $(2,529,972) $(7,484,700) $ 1,193,136 ----------- ----------- ----------- ----------- NET (LOSS) INCOME $(4,405,863) $(2,529,972) $(7,484,700) $ 1,193,136 =========== =========== =========== =========== NET (LOSS) INCOME PER UNIT: Weighted average number of units outstanding 272,144 298,128 276,010 300,829 =========== =========== =========== =========== Weighted average net income per Limited Partner and General Partner Unit $ (16.19) $ (8.49) $ (27.12) $ 3.97 =========== =========== =========== ===========
See notes to financial statements. 3 JOHN W. HENRY & CO./MILLBURN L.P. (a Delaware limited partnership) ------------------------------ STATEMENTS OF CHANGES IN PARTNERS' CAPITAL ------------------------------------------ For the six months ended June 30, 1998 and 1997 -----------------------------------------------
Units Limited Partners Series A Series B Series C Series A Series B -------- -------- -------- ---------- -------------- PARTNERS' CAPITAL, December 31, 1996 56,376 148,528 100,695 $14,040,479 $30,082,484 Redemptions (2,251) (4,899) (3,161) (601,205) (1,055,894) Net Income -- -- -- 282,321 592,415 ----------- -------- --------- ----------- ----------- PARTNERS' CAPITAL, June 30, 1997 54,125 143,629 97,534 $13,721,595 $29,619,005 =========== ======== ========= =========== =========== PARTNERS' CAPITAL, December 31, 1997 51,772 137,220 92,459 $14,487,473 $31,223,304 Redemptions (3,628) (8,075) (5,795) (872,040) (1,564,157) Net loss -- -- -- (1,721,386) (3,722,972) ----------- -------- --------- ----------- ----------- PARTNERS' CAPITAL, June 30, 1998 48,144 129,145 86,664 $11,894,047 $25,936,175 =========== ======== ========= =========== =========== General Partner Series C Series A Series B Series C Total ----------- -------- --------- ----------- ---------- PARTNERS' CAPITAL, December 31, 1996 $15,878,356 $196,983 $ 405,594 $ 230,192 $60,834,088 Redemptions (521,930) -- -- -- $(2,179,029) Net Income 302,897 3,649 7,562 4,292 $ 1,193,136 ----------- -------- --------- ----------- ----------- PARTNERS' CAPITAL, June 30, 1997 $15,659,323 $200,632 $ 413,156 $ 234,484 $59,848,195 =========== ======== ========= =========== =========== PARTNERS' CAPITAL, December 31, 1997 $16,376,709 $221,605 $ 456,174 $ 258,899 $63,024,164 Redemptions (876,807) (70,937) (133,278) (88,401) $(3,605,620) Net loss (1,935,313) (24,838) (51,390) (28,801) $(7,484,700) ----------- -------- --------- ----------- ----------- PARTNERS' CAPITAL, June 30, 1998 $13,564,589 $125,830 $ 271,506 $ 141,697 $51,933,844 =========== ======== ========= =========== ===========
See notes to financial statements. 4 JOHN W. HENRY & CO./MILLBURN L.P. (A Delaware Limited Partnership) ------------------------------ NOTES TO FINANCIAL STATEMENTS 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES These financial statements have been prepared without audit. In the opinion of management, the financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the financial position of John W. Henry & Co./Millburn L.P. (the "Partnership" or the "Fund") as of June 30, 1998 and the results of its operations for the six months ended June 30, 1998 and 1997. However, the operating results for the interim periods may not be indicative of the results expected for the full year. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with general accepted accounting principles have been omitted. It is suggested that these financial statements be read in conjunction with the financial statements and notes thereto included in the Partnership's Annual Report on Form 10-K filed with the Securities and Exchange Commission for the year ended December 31, 1997 (the "Annual Report"). As of December 1, 1996, the Partnership invested all of its assets in Trading LLCs. The Partnership was, thus, invested indirectly in the trading of derivative instruments, but did not itself hold any derivative positions. Consequently, no such positions subsequent to November 30, 1996 are reflected in these financial statements. 2. INVESTMENTS As of June 30, 1998 and December 31, 1997, the Partnership had investments in the ML JWH Financial and Metals Portfolio L.L.C. ("JWH LLC") and ML Millburn Global L.L.C. ("Millburn LLC") as follows: 1998 1997 ------------- ------------- JWH LLC $ 24,557,560 $ 31,979,914 Millburn LLC 27,376,284 31,044,250 ------------- ------------- Total $ 51,933,844 $ 63,024,164 ============= ============= 5 Total revenues and fees with respect to such investments is set forth as follows:
For the three months Total Brokerage Administrative Profit Loss from ended June 30, 1998 Revenue Commissions Fees Shares Investments --------------- --------------- -------------- -------------- ---------------- Series A Units JWH LLC $ (513,652) $ 145,270 $ 3,823 $-- $ (662,745) Millburn LLC (202,961) 156,246 4,111 -- (363,318) ----------- ----------- ----------- --- ----------- Total $ (716,613) $ 301,516 $ 7,934 $-- $(1,026,063) =========== =========== =========== === =========== Series B Units JWH LLC $(1,111,028) $ 312,981 $ 8,235 $-- $(1,432,244) Millburn LLC (444,222) 339,418 8,932 -- (792,572) ----------- ----------- ----------- --- ----------- Total $(1,555,250) $ 652,399 $ 17,167 $-- $(2,224,816) =========== =========== =========== === =========== Series C Units JWH LLC $ (577,062) $ 163,031 $ 4,290 $-- $ (744,383) Millburn LLC (229,143) 176,806 4,652 -- (410,601) ----------- ----------- ----------- --- ----------- Total $ (806,205) $ 339,837 $ 8,942 $-- $(1,154,984) =========== =========== =========== === =========== Total All Units JWH LLC $(2,201,742) $ 621,282 $ 16,348 $-- $(2,839,372) Millburn LLC (876,326) 672,470 17,695 -- (1,566,491) ----------- ----------- ----------- --- ----------- Total $(3,078,068) $ 1,293,752 $ 34,043 $-- $(4,405,863) =========== =========== =========== === ===========
6
For the three months Total Brokerage Administrative Profit Loss from ended June 30, 1997 Revenue Commissions Fees Shares Investments --------------- --------------- -------------- -------------- ---------------- Series A Units JWH LLC $ (324,897) $ 155,602 $ 4,094 $ -- $ (484,593) Millburn LLC 60,246 182,786 4,810 (24,919) (102,431) ----------- ----------- ----------- ----------- ----------- Total $ (264,651) $ 338,388 $ 8,904 $ (24,919) $ (587,024) =========== =========== =========== =========== =========== Series B Units JWH LLC $ (700,431) $ 335,091 $ 8,818 $ -- $(1,044,340) Millburn LLC 131,882 395,769 10,415 (53,665) (220,637) ----------- ----------- ----------- ----------- ----------- Total $ (568,549) $ 730,860 $ 19,233 $ (53,665) $(1,264,977) =========== =========== =========== =========== =========== Series C Units JWH LLC $ (376,795) $ 178,460 $ 4,696 $ -- $ (559,951) Millburn LLC 69,592 210,777 5,547 (28,712) (118,020) ----------- ----------- ----------- ----------- ----------- Total $ (307,203) $ 389,237 $ 10,243 $ (28,712) $ (677,971) =========== =========== =========== =========== =========== Total All Units JWH LLC $(1,402,123) $ 669,153 $ 17,608 $ -- $(2,088,884) Millburn LLC 261,720 789,332 20,772 (107,296) (441,088) ----------- ----------- ----------- ----------- ----------- Total $(1,140,403) $ 1,458,485 $ 38,380 $ (107,296) $(2,529,972) =========== =========== =========== =========== ===========
7
For the six months Total Brokerage Administrative Profit Loss from ended June 30, 1998 Revenue Commissions Fees Shares Investments --------------- --------------- -------------- -------------- ---------------- Series A Units JWH LLC $(1,007,264) $ 312,124 $ 8,216 $ -- $(1,327,604) Millburn LLC (84,634) 325,301 8,560 125 (418,620) ----------- ----------- ----------- ----------- ----------- Total $(1,091,898) $ 637,425 $ 16,776 $ 125 $(1,746,224) =========== =========== =========== =========== =========== Series B Units JWH LLC $(2,170,716) $ 670,783 $ 17,650 $ -- $(2,859,149) Millburn LLC (191,597) 704,913 18,550 153 (915,213) ----------- ----------- ----------- ----------- ----------- Total $(2,362,313) $ 1,375,696 $ 36,200 $ 153 $(3,774,362) =========== =========== =========== =========== =========== Series C Units JWH LLC $(1,131,080) $ 350,012 $ 9,212 $ -- $(1,490,304) Millburn LLC (96,075) 367,793 9,678 264 (473,810) ----------- ----------- ----------- ----------- ----------- Total $(1,227,155) $ 717,805 $ 18,890 $ 264 $(1,964,114) =========== =========== =========== =========== =========== Total All Units JWH LLC $(4,309,060) $ 1,332,919 $ 35,078 $ -- $(5,677,057) Millburn LLC (372,306) 1,398,007 36,788 542 (1,807,643) ----------- ----------- ----------- ----------- ----------- Total $(4,681,366) $ 2,730,926 $ 71,866 $ 542 $(7,484,700) =========== =========== =========== =========== ===========
8
For the six months Total Brokerage Administrative Profit Loss from ended June 30, 1997 Revenue Commissions Fees Shares Investments --------------- --------------- -------------- -------------- ---------------- Series A Units JWH LLC $ (61,756) $ 338,554 $ 8,558 $ 564 $ (409,432) Millburn LLC 1,279,069 389,295 9,850 184,522 695,402 ----------- ----------- ----------- ----------- ----------- Total $ 1,217,313 $ 727,849 $ 18,408 $ 185,086 $ 285,970 =========== =========== =========== =========== =========== Series B Units JWH LLC $ (137,602) $ 728,565 $ 18,422 $ 795 $ (885,384) Millburn LLC 2,741,131 840,176 21,264 394,330 1,485,361 ----------- ----------- ----------- ----------- ----------- Total $ 2,603,529 $ 1,568,741 $ 39,686 $ 395,125 $ 599,977 =========== =========== =========== =========== =========== Series C Units JWH LLC $ (79,777) $ 386,426 $ 9,772 $ 345 $ (476,320) Millburn LLC 1,448,631 445,778 11,284 208,060 783,509 ----------- ----------- ----------- ----------- ----------- Total $ 1,368,854 $ 832,204 $ 21,056 $ 208,405 $ 307,189 =========== =========== =========== =========== =========== Total All Units JWH LLC $ (279,135) $ 1,453,545 $ 36,752 $ 1,704 $(1,771,136) Millburn LLC 5,468,831 1,675,249 42,398 786,912 2,964,272 ----------- ----------- ----------- ----------- ----------- Total $ 5,189,696 $ 3,128,794 $ 79,150 $ 788,616 $ 1,193,136 =========== =========== =========== =========== ===========
9 Condensed statements of financial condition and statements of operations for JWH LLC and Millburn LLC are set forth as follows:
1998 1997 ----------------------------------- ----------------------------------- JWH Millburn JWH Millburn LLC LLC LLC LLC ----------- ------------ ----------- ------------ Assets $62,481,438 $35,584,936 $62,481,438 $35,584,936 =========== =========== =========== =========== Liabilities $ 1,122,533 $ 1,454,659 $ 1,122,533 $ 1,454,659 Members' Capital 61,358,905 34,130,277 61,358,905 34,130,277 ----------- ----------- ----------- ----------- Total $62,481,438 $35,584,936 $62,481,438 $35,584,936 =========== =========== =========== =========== JWH LLC For the three For the three For the six For the six months months months months ended June 30 ended June 30 ended June 30 ended June 30 1998 1997 1998 1997 -------------- -------------- ------------- ------------- Revenues $(3,235,723) $(2,656,425) $(7,262,323) $ (374,729) Expenses 991,700 1,242,115 2,333,897 2,729,950 ----------- ----------- ----------- ----------- Net Loss $(4,227,423) $(3,898,540) $(9,596,220) $(3,104,679) =========== =========== =========== =========== Millburn LLC For the three For the three For the six For the six months months months months ended June 30 ended June 30 ended June 30 ended June 30 1998 1997 1998 1997 -------------- -------------- ------------- ------------- Revenues $(4,405,864) $ 288,163 $(7,484,700) $ 6,038,312 Expenses -- 767,266 -- 2,742,491 ----------- ----------- ----------- ----------- Net (Loss) Income $(4,405,864) $ (479,103) $(7,484,700) $ 3,295,821 =========== =========== =========== ===========
10 3. INCOME (LOSS) PER UNIT The profit and loss of the Series A, Series B and Series C Units for the three and six months ended June 30, 1998 and 1997 is as follows:
For the three months ended June 30, 1998 1997 ----------------------------------------- ------------------------------------------ Series A Series B Series C Series A Series B Series C ------------ ----------- ------------ ----------- ----------- ------------- REVENUES: (Loss) income from investments $(1,026,063) $(2,224,816) $(1,154,984) (587,025) (1,264,978) (677,969) ----------- ----------- ----------- ----------- ----------- ----------- Total revenues (1,026,063) (2,224,816) (1,154,984) (587,025) (1,264,978) (677,969) ----------- ----------- ----------- ----------- ----------- ----------- NET (LOSS) INCOME $(1,026,063) $(2,224,816) $(1,154,984) $ (587,025) $(1,264,978) $ (677,969) =========== =========== =========== =========== =========== =========== NET (LOSS) INCOME PER UNIT: Weighted average number of units outstanding 50,011 134,904 88,989 54,476 144,739 98,913 =========== =========== =========== =========== =========== =========== Weighted average net (loss) income per Limited Partner and General Partner Unit $ (20.52) $ (16.49) $ (12.98) $ (10.78) $ (8.74) $ (6.85) =========== =========== =========== =========== =========== ===========
11 4. FAIR VALUE AND OFF-BALANCE SHEET RISK
For the six months ended June 30, 1998 1997 ----------- ----------- Series Series B Series C Series A Series B Series C ----------- ----------- ----------- ----------- ----------- ----------- REVENUES: (Loss) income from investments (1,746,224) (3,774,362) (1,964,114) 285,970 599,977 307,189 ----------- ----------- ----------- ----------- ----------- ----------- Total revenues (1,746,224) (3,774,362) (1,964,114) 285,970 599,977 307,189 ----------- ----------- ----------- ----------- ----------- ----------- NET (LOSS) INCOME $(1,746,224) $(3,774,362) $(1,964,114) $ 285,970 $ 599,977 $ 307,189 =========== =========== =========== =========== =========== =========== NET (LOSS) INCOME PER UNIT: Weighted average number of units outstanding 50,795 134,904 90,311 55,126 146,186 99,517 =========== =========== =========== =========== =========== =========== Weighted average net (loss) income per Limited Partner and General Partner Unit $ (34.38) $ (27.98) $ (21.75) $ 5.19 $ 4.10 $ 3.09 =========== =========== =========== =========== =========== ===========
Item 2: Management's Discussion and Analysis of Financial Condition and Results of Operations MONTH-END NET ASSET VALUE PER SERIES A UNIT
Jan. Feb. Mar. Apr. May Jun. - ------------------------------------------------------------------------- 1997 $273.52 $270.58 $267.94 $261.04 $251.03 $257.22 - ------------------------------------------------------------------------- 1998 $281.00 $268.85 $270.14 $248.62 $257.02 $249.67 - -------------------------------------------------------------------------
MONTH-END NET ASSET VALUE PER SERIES B UNIT
Jan. Feb. Mar. Apr. May Jun. - ------------------------------------------------------------------------- 1997 $222.32 $219.93 $217.78 $212.17 $214.08 $209.10 - ------------------------------------------------------------------------- 1998 $228.36 $218.48 $219.55 $202.07 $208.90 $202.93 - -------------------------------------------------------------------------
MONTH-END NET ASSET VALUE PER SERIES C UNIT
Jan. Feb. Mar. Apr. May Jun. - -------------------------------------------------------------------------- 1997 $173.26 $171.40 $169.73 $165.35 $159.04 $162.96 - -------------------------------------------------------------------------- 1998 $177.97 $170.27 $171.11 $157.48 $162.80 $158.15 - -------------------------------------------------------------------------
12 Performance Summary January 1, 1997 to June 30, 1997 In currency markets, the U.S. dollar rallied and started 1997 on a strong note, rising to a four-year high versus the Japanese yen and two-and-a-half year highs versus the Deutsche mark and the Swiss franc. The dollar, however, underwent a significant correction in the Spring against the Japanese yen, due to the G7 finance ministers' determination that a further dollar advance would be counter-productive to their current goals. Global interest rate markets began the year on a volatile note, as investors evaluated economic data for signs of inflation. January 1, 1998, to June 30, 1998 The Fund's most profitable positions during the quarter were in the global interest rate markets. In Europe, an extended bond market rally continued despite an environment of robust growth in the United States, Canada and the United Kingdom, as well as a strong pick-up in growth in continental Europe. Gold prices drifted sideways and lower as Asian demand continued to slow and demand in the Middle East was affected by low oil prices. Trading results in stock index markets were mixed, but unprofitable, despite a strong first-quarter performance by the U.S. equity market as several consecutive weekly gains were recorded with most market averages setting new highs. Results in currency trading were also mixed, but unprofitable. In particular, the Swiss franc weakened versus the U.S. dollar. April 1, 1998 to June 30, 1998 As swings in the U.S. dollar and developments in Japan affected bond markets, the Bond's interest rate trading during the quarter resulted in losses, particularly in Eurodollar deposits and U.S. Treasury bonds. Early in the quarter, Treasury trading was range-bound, as concern that the economy might be overheating was balanced by the potential impact of the Asian recession. Additionally Australian bonds and bills saw a dramatic drop in prices in early June, as dollar-bloc currencies remained under pressure versus the U.S. dollar due to the Japanese/Asian crisis. Metals and currency trading also resulted in losses. The depressed gold market weakened further following news of a European Central Bank consensus that ten to fifteen percent of reserves should be made up of gold bullion which was at the low end of expectations. The Japanese yen weakened during June to an eight-year low versus the U.S. dollar. Trading results in stock index markets were profitable, as the Asia-Pacific region's equity markets weakened across the board. In particular, Hong Kong's Hang-Seng index trended downward during most of the quartere and traded at a three-year low. Item 3. Quantitative and Qualitative Disclosures About Market Risk Not Applicable 13 PART II - OTHER INFORMATION Item 1. Legal Proceedings There are no pending legal proceedings to which the Partnership or the General Partner is a party. Item 2. Changes in Securities and Use of Proceeds (a) None. (b) None. (c) None. (d) None. Item 3. Defaults Upon Senior Securities None. Item 4. Submission of Matters to a Vote of Security Holders None. Item 5. Other information Effective May 11, 1998, Jo Ann Di Dario became a Vice President, Treasurer and Chief Financial Officer of Merrill Lynch Investment Partners Inc. (AMLIP@). Ms. Di Dario was born in 1946. Before joining MLIP, she was self-employed for one year. From February 1996 to May 1997, she worked as a consultant for Global Asset Management, an international mutual fund organizer and operator headquartered in London, where she offered advice on restructuring the back office operations. From May 1992 to January 1996, Ms. Di Dario served as Vice President of Meridian Bank Corporation, a regional bank holding company. She was responsible for managing the treasury operations of the bank holding company and its wholly-owned subsidiary, Meridian Investment Company Inc. Ms. Di Dario managed the domestic treasury operation of First Fidelity Bank, a regional bank, from September 1991 to May 1992. From 1985 until December 1990, Ms. Di Dario was Vice President, Secretary and Controller of Caxton Corporation, a commodity pool operator and commodity trading advisor. Her background includes seven years of public accounting experience. She graduated with high honors from Stockton State College with a Bachelor of Science Degree in Accounting. Item 6. Exhibits and Reports on Form 8-K. (a) Exhibits -------- There are no exhibits required to be filed as part of this report. (b) Reports on Form 8-K ------------------- There were no reports on Form 8-K filed during the first six months of fiscal 1998. 14 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. JOHN W. HENRY & CO./MILLBURN L.P. By: MERRILL LYNCH INVESTMENT PARTNERS INC. (General Partner) Date: August 11, 1998 By /s/ JOHN R. FRAWLEY, JR. ------------------------ John R. Frawley, Jr. Chairman, Chief Executive Officer, President and Director Date: August 11, 1998 By /s/ JOANN DI DARIO -------------------- Jo Ann Di Dario Vice President, Chief Financial Officer and Treasurer 15 EX-27 2 FINANCIAL DATA SCHEDULE
BD 6-MOS 6-MOS DEC-31-1998 DEC-31-1997 JAN-01-1998 JAN-01-1997 JUN-30-1998 JUN-30-1997 0 0 52,599,795 63,538,322 0 0 0 0 0 0 0 0 52,599,795 63,538,322 0 0 665,951 514,158 0 0 0 0 0 0 0 0 0 0 0 0 0 0 51,933,844 63,024,164 52,599,795 63,538,322 0 0 0 0 0 0 (7,484,700) 1,193,136 0 0 0 0 0 0 (7,484,700) 1,193,136 (7,784,700) 1,193,136 0 0 0 0 (7,484,700) 1,193,136 (27.12) 3.97 (27.12) 3.97
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